Caleb Development Corporation
- Assets
- $13.4m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Lynn, MA
- Founding
- 11/1997
- Data as of
- 12/2022
- EIN
- 04-3365903
Organization Overview
Caleb Development Corporation is located in Lynn, MA. The organization was established in 1997. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Caleb Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Caleb Development Corporation generated $2.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $2.7m during the year ending 12/2022. While expenses have increased by 6.2% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE LOW INCOME HOUSING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clark Orzalli Chairperson | 2 | $0 | |
Vince O'donnell Treasurer | 2 | $0 | |
Debra S Nutter President | 2 | $0 | |
Robert Snow Treasurer Emeritus | 2 | $0 | |
Kathryn Burns Clerk | 2 | $0 | |
Bessy Kong Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $762,556 |
| Interest on Savings | $10,738 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,776,124 |
| Total Revenue | $2,549,418 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $677,803 |
| Taxes | $198,298 |
| Depreciation | $351,481 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,292,066 |
| Total operating and administrative expenses | $2,549,067 |
| Contributions, gifts, grants paid | $172,006 |
| Total expenses and disbursements | $2,721,073 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $176,814 |
| Savings and temporary cash investments | $682,528 |
| Net Accounts receivable | $109,643 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,340 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $12,297,952 |
| Other assets | $174,139 |
| Total assets | $13,445,416 |
| Accounts payable and accrued expenses | $374,479 |
| Grants payable | $0 |
| Deferred revenue | $15,525 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $13,035,358 |
| Other liabilities | $315,648 |
| Total liabilities | $13,741,010 |